RETAIL BANKING Maximizing Relatinship Develpment Thrugh Sales and Service Leadership Jack D. Hubbard Chief Experience Officer St. Meyer & Hubbard Elgin, IL jhubbard@smandh.cm 847-717-4328 August 1, 2018
Maximizing Relatinship Develpment Thrugh Sales and Service Leadership Jack Hubbard Chairman and Chief Sales Officer jhubbard@smandh.cm 847-717-4328 1 5 Cs f Trust-Based Leadership 1. C 2. C 3. C 4. C 5. C 2 1
Sales Culture Versus Relatinship Culture Sales Culture Relatinship Culture Custmer Service Cnsistent Custmer Experience Cnsultative Trust and Value-Based Invlvement (pt in) Cmmitment (all in) Numbers and Tick Marks Quality Straight Jacket Flexible Cnsistency Campaign after campaign Sustainability Daily, Weekly, Mnthly, Quarterly Results Urgent Patience Crss-Selling Crss-Slving Busy Bank Targeted and Fcused Screbard Staring Screbard Glancing Sell, sell, sell D the right things right Training Events Learning Organizatin Yur Way (my prcess) Our Way (Client Experience Prcess) Manage Numbers Lead Peple 3 Perfrmance Culture Elements 4 Right peple, right seats, right prcess The Leadership Chain Metrics that Matter 2
Surcing, Assessing, Onbarding What strategies are in place t surce tp candidates? Hw are sales managers surcing candidates? (War Bard) What behavirs d tp perfrmer s exhibit and hw d candidates mirrr thse? What behaviral interview questins are asked? What rle plays are dne during the interview prcess? What sales testing is in place? Where are yur Sales Leaders cming frm? What retentin strategies are in place t keep tp perfrmers? What relatinship develpment skills and cmpetencies are expected and are they built int jb descriptins frm the tp dwn? Hw are new emplyees Onbarded when they jin the bank? 5 One Bank s Acquisitin Questins 6 Hw much f yur current business has cme thrugh yur direct sales effrts versus the amunt yu inherited frm ther prtflis? Hw d yu surce and prspect? Hw d yu secure telephne appintments with prspects? Hw and when d yu bring in partners? Hw d yu find new referral surces and hw d yu keep mind share with yur COIs? 3
One Bank s Retentin Questins Talk abut prtfli retentin rates. Give me an example f hw yu specifically add value t clients in yur prtfli. What wrds wuld yur clients use t describe their relatinship with yu? Hw d yur stay current with Share f Heart events? Hw likely is it that yu knw the COIs and trusted advisrs f yur tp 10 clients? 7 One Bank s Intangible Questins 8 Describe yur pre-call planning prcess. A prspect has suggested they will becme yur client if yu lwer yur price. What d yu say and d? Describe hw yu use CRM. Describe yur pst-call fllw-up. Discuss hw yu use LinkedIn as a scial cllabratin tl. 4
Creating the Leadership Chain Team Meetings Jint Calls/Observatins Check-Ins Caching Measurement 9 Three Types 10 Huddle: Pre/de brief Pipeline: Strategic view f activities and team results Skill Builder: Training meeting 5
Yur Relatinship Develpment Meetings Discuss the meetings that ccur at yur bank: Huddles Pipelines Skill Builders Include: When they ccur Frmat and timing Subject matter Get t G, Have t G? What wuld yu lse if yu didn t d them One thing t make their/yur meetings better 11 The Huddle 15-Minute Branch Check Up t: Review yur team screcard Identify team gap t gal Recgnize individual successes (utcmes and activities) Identify imprvement pprtunities Create this week s actin plan Determine specific utcme and activity gals fr the cming week 12 6
The Pipeline - Windshield nt Rearview Meeting Intrductin/Review f Success Tip The Week in Review: Team utcmes gap t gal Team activities gap t gal Review f wins and learns Discussin f best practice Cnversatin Strategies: Ht Prspect Lttery Bk Review Learning t Life Skill Practice (Skill Builder mnthly shrter pipeline) Partner Visit Preview f the Cming Week Success Tip f the Week Insight questin t ask everyne 13 14 7
Ask Yurself Hw d my meetings cnnect t ur strategic, revenue, and custmer experience bjectives? Hw d I interweave ur Relatinship Develpment prcess int each meeting? What preparatin is needed t make the meeting successful? Hw shuld participants prepare? What ROT des this meeting prvide? When partners attend the meeting, hw d I prepare them? What d I expect my peple t d as a result f this meeting? Hw d I link this meeting t my ther caching respnsibilities? Hw can I cntinue t make this a get t versus a have t? What wuld we lse if we did nt have this meeting? 15 The Check-In Prcess Q U E S T I O N S The Bard f Directrs President Head Teller Teller 16 EVP Retail EVP Cmmercial EVP Mrtgage EVP Trust Branch Manager Relatinship Manager Originatr Trust Officer Relatinship Manager Originatr Trust Officer Relatinship Manager Originatr Trust Officer Persnal Banker I N F O R M A T I O N 8
Check-In Guidelines Schedule in advance and make schedule cnsistent In persn (first), n the phne (secnd) never via e-mail Prepare in advance yu we it t them Keep t 15-20 minutes Balance the cnversatin (Yu talk 20% - they 80%) Discuss activities, behavirs, and utcmes (cnnect yur screcard) Link t all ther sales leadership rutines - During ur last caching sessin Take gd ntes and create brief actin plan Fcus n the future, tuch n the past 17 Check-In Questins Business Banker 18 Hw s the success tip wrking frm ur meeting? Be specific. Discuss yur best call last week. Hw many relatinship pprtunities did yu uncver last week? Talk abut yur prspecting success last week. What COI(s) did yu reach ut t last week? What did yu d t add value t each f them? What did yu pst n LinkedIn this week? What was the reactin? What appintments d yu have this week? What jint calls shuld I be preparing fr this week? What are yu reading t imprve yur skills and persnal grwth? What can I d t help yu this week? 9
Check-In Questins Persnal Banker Discuss yur Actin Plan frm ur last Check-In. Discuss yur best custmer cnversatin last week. Hw many relatinship pprtunities did yu uncver last week? Talk abut yur Onbarding call successes last week. When yu left vice mails what did they sund like? What percent f them were returned and why? What service pprtunities did yu turn int relatinship/referral pprtunities last week? What appintments d yu have this week? What telephne calls d yu plan t make this week? What are yu reading t imprve yur skills and persnal develpment? What in branch bservatin shuld I be preparing fr this week? What can I d t help yu this week? 19 A Simple Caching Prcess 20 Islate Discriminate Observe Cmmunicate (Ask then Tell) Simple Actin Plan Cnnect back t ther rutines 10
Retail SalesMatter Metrics That Matter Retail Metrics that A = B x C - D Net New Accunts Clsed Accunts # F:F Meetings Sales Cnversin Rati Walk-In Walk-Over Appintments (Win/Lss) x (Crss-Sell) x (90 Day Retentin Rate) Branch Sales Velcity Ttal New Accunts Opened/Day/FTE Ttal New Accunts Opened # f Walk-Overs/Week # f F:F Meetings/Day/FTE # f Service-Related Cnversatins/Day Service/Sales Cnversin Rati 21 Retail Screcard This Week YTD Peer Ave Tp 20% 15 60 180 180 180 180 0% 4% 4% 10% 7.8% 14.2% Ttal # f Practive F:F Cnversatins Ttal # New F:F Cnversatins Win/Lss Rati Crss-Sell Rati 3 15 45 45 45 45 0% 4.7% 4.7% 10% 4.7% 10.1% 0 4 10 22 17 31 38 598 1,873 1,800 1,881 1,789 21.6% 23.3% 23% 25% 27% 39.6% 1.25 1.2 1.18 1.25 1.3 1.41 86.1% 85.4% 85.3% 90% 88.6% 93.8% F:F Cnversin Rati 27% 28% 27% 30% 35% 56% Referrals T Partners 0 19 83 72 71 91 Ttal # f New Accunts Opened 10 167 508 540 660 999 90 Day Retentin Rati New Retail Checking Accunts New Retail Depsits New Retail Lans 22 QTD Gal Lead Cnversin Rati Referral Cnversin Rati C QTD Actual # f Campaign Leads # f Teller Referrals B MTD 0 16 46 60 63 78 $21K $550K $1,880K $2,100K $2,550K $4,100K $52.5K $890K $2,650K $3,000K $3,680K $5,900K 11
Cmmercial Metrics that Matter Cmmercial Sales Metrics That Matter Sales = A x B x C Velcity D Win/Lss Rati Stage Prbability T Clse Stage Attritin Rates Stage Cnversin Rates # f Sales Ready Opprtunities # f New Prspects # f Prspects Wrking Prspect Cnversin Rati # f Client Opprtunities Client Opprtunity Cnversin Rati Average Time-T-Clse Average Deal Size Average-Time-In-Stage New Accunts/Lan 23 Business Banking Rllup Screcard 24 12
Business Banking Caching Screcard 25 Sme Questins t Take t the Bank 26 Hw dynamic is ur Relatinship Develpment prcess? Hw d we interweave it int t ur daily, weekly, mnthly rutines? Hw cnnected are the sales leadership rutines? What are the metrics that really matter fr my rganizatin? D we want a Sales Culture r a Relatinship Develpment Culture? What d we need t d t get there? D we have the Urgent Patience t make it wrk? 13